Netflix to stream previous seasons of CW shows

NathalieTadena

Netflix Inc.
NFLX, +2.47%
will allow users to stream previous seasons of shows that air on CBS Corp.'s (CBS, CBSA) and Warner Bros. Television Group's The CW network as well as future programs, as the company continues to boost its online offerings.

Netflix has licensed the rights to stream more than 700 hours of previous-season episodes of The CW's shows, as well as future programs through the 2014 to 2015 season. The rights extend for four years after each series ends its broadcast on the network.

The company said all scripted episodes of series airing on The CW this season will premiere for Netflix members in Fall 2012, while previous seasons of certain shows will be available this month.

The CW, which includes dramas "The Vampire Diaries," "Gossip Girl," and "90210" that are skewed towards a younger audience, is a joint venture between CBS and Warner Bros. Entertainment, itself part of Time Warner Inc.
TWX, -0.45%

Netflix, which began as a DVD-by-mail company, has evolved into a video-streaming power. The company already has a two-year, non-exclusive international licensing pact with CBS, as well as a two-year licensing pact to stream select TV shows from CBS, mostly from the network's library of older content.

Earlier this month, Netflix reversed course on separating its movie-streaming and DVD-by-mail businesses into two different websites, easing customer outrage but raising more questions about Chief Executive Reed Hastings' recent moves. Last month, Netflix said it was renaming the mail DVD service Qwikster, forcing customers to manage separate movie queues and set up different payment schemes.

Netflix in July reported that its second-quarter earnings rose 57%, but the online video-rental company reported its costs to win customers rose from the prior quarter and its rate of lost subscriptions increased in the U.S.

Shares of Netflix rose 4% to $118.16 in recent trading. The stock is down 61% in the past three months.

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